Real Estate Agents

In today’s challenging market, many listings are likely properties that require short sales. MYclosing is well aware of this fact and we are willing and able to help!

We have designed a system for you that will allow you to concentrate more time on getting listings, getting more commissions and saving your precious time! This site will give you and your client (the homeowner) an overview to the MYclosing Short Sale Process. MYclosing can collect all of the documents necessary to complete a Short Sale. We do not require Listing Agents to spend their time collecting/processing paperwork, we do it for you.

The MYclosing process:

Screening Homeowners:

Contact MYclosing before you list a property. One of the benefits of using MYclosing is we screen all clients to be sure they are a qualified candidate for a Short Sale. Because of our experience, we can advise you and the homeowner on whether or not a Short Sale will work for their specific needs. Not all homeowners will qualify for a Short Sale.

Listing the Property:

MYclosing, LLC handles banking issues that includes Loan Modifications, Short Sales, and Deed In Lieus. MYclosing does not LIST properties, as we are not real estate agents. We feel our role/duty is to focus directly on the financial issues surrounding Short Sales. When working with MYclosing, you become part of the team and can focus on the real estate side of things. The Realtor is the professional that handles listing the property, scheduling showings, and handling the real estate contracts/paperwork. These are the typical duties in representing a client in a traditional transaction. You are still working with your Sellers and are better serving their interests by having MYclosing, LLC assist in the Short Sale process.

Document Collection:

MYclosing, LLC can handle all document collection and submission. Before we can start on the short sale, we will need to collect the necessary paperwork from the seller. This includes: Financial sheets, third party authorization, purchase and sales agreement, and hardship letter, and many other items depending on the lender. Once we have those documents, we will be able to start the process.

Title/Background Research:

MYclosing, LLC feels it is imperative to have all of the necessary background information about the property and owners before moving forward. By performing title searches upfront, it allows MYclosing, LLC to address issues concerning the conveyance of clear title.

Lender Contact:

At this point, MYclosing, LLC will have been in contact with the lienholders and will have submitted the necessary documentation. We believe communication and follow up is an important part of the process. We have automated emails that keep all parties involved and updated with our progress. You no longer have to worry about what is going on, or whether or not someone is working on your file.

Contract Review:

By working with MYclosing, LLC, you would have the property listed accurately and should have an offer in place. MYclosing, LLC will review all documents to be sure they are in line with the Short Sale lender guidelines. If the contract is missing items, it will cause delays. When you have an offer, be sure to keep the listing as "Active Pending" or whatever the category is that your MLS allows for "Back Up Offers" associated with Short Sales.

Lender Negotiations:

Again MYclosing, LLC will keep all parties updated with our progress. Many times, Short Sale lenders will have to consult the investor on the loan for approval and by keeping on top of things, we can address any issues that may arise. We have developed special relationships with many of the Short Sale lenders to get problem files moving forward towards settlement.

BPO/Appraisal:

MYclosing, LLC asks our Listing Agents to meet the BPO agent or appraiser at the property when the lender(s) conducts their BPO/Appraisal. This part of the process is extremely important! This value has to come in as close to your offer as possible in order for the lender to accept a short sale. Make sure to have a copy of the current offer as well as some of the closest comps you can get. Remember, we are not influencing the appraised value, only pointing out realistic conditions that are affecting the sale/offer. RAYAC has issued guidance on meeting with BPO agents/appraisers and we can supply you with a copy of these guidelines.

Approval Letters/Terms:

MYclosing, LLC will review all approval letters through management to be sure we have addressed all terms and conditions. This is crucial to a successful outcome. We make sure we have addressed the issue of "deficiency waivers". Lenders can satisfy a loan, but not waive the deficiency and then the homeowner would remain liable for the balance due. Be sure your approvals have addressed the issue of deficiencies.

Closing and Settlement:

The title companies that we work with are well versed in what it takes to close a Short Sale transaction. We proudly boast that we have never had a closing rescinded by a Short Sale lender for any reason. Most people think the deal is done when the checks clear, but that is absolutely incorrect. There are several important steps that must be performed to make sure the transaction stays closed. Because of the nuances associated with Short Sales, it is important to choose a title company that can get your deal closed. Not all title companies are the same.

Other Items to Consider with an Offer:

How quickly can they close? Short Sale Lenders have very specific deadline after sending written approval.

What type of financing is it? Some types of properties won’t qualify for certain financing.

Does the Buyer's Loan Officer understand Short Sales?

How much of a down payment is the buyer contributing? The higher the better. Make sure the buyer can close.

Is the Buyer willing to wait for sometimes several months to close on the home?

Is the Buyer placing a deposit? Most Short Sale lenders are not only requiring a deposit, but also proof of money to close.

It is very important to explain to the buyer that the closing process greatly relies on the schedules of each foreclosing lender and seldom is on their time frame. Typically, the lender(s) will grant as much as 30 days for the buyer to close after written acceptance is generated. If the buyer can’t do this, then make sure to determine that up front so another offer can be considered! There is no reason for anyone to spend their time with an offer that won’t close!

As you can see, MYclosing, LLC offers an invaluable service to agents when it comes to Short Sale negotiations. Why use your time learning new Short Sale guidelines, tracking down paperwork, or contacting lienholders, when you can be doing what you do best. By using MYclosing, LLC you will be able to spend your time finding additional listings and getting buyers to their dream property. Contact MYclosing, LLC via email: Info@MYclosing.com or phone: (877) 299-0251 for more information.

MYclosing, LLC

Professional Short Sale Negotiations

MYclosing was established to help Homeowners and Real Estate Agents handle the special nuances of Short Sales. Each Short Sale is different and needs treated as such.

We provide Full Disclosure with no hidden costs or fees, automated emails for consistent communication and we handle all document collection and review

MYclosing’s experience, knowledge and expertise can help reduce turnaround times and increase closing ratios and revenue for agents and their brokers.

Upfront Title research to help avoid last minute title issues that can delay or prevent settlement.

MYclosing will stay current and compliant on all short sale regulations so our agents can rely on us for the most up to date information and answers

*IMPORTANT NOTICE: MYclosing, LLC and its agents are not associated with the government and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. You may stop doing business with MYclosing, LLC and its agents at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us nothing for our services. If you stop paying your mortgage, you could lose your home and damage your credit rating. For more info: info@myclosing.com

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About Us

Welcome to MYclosing, LLC. Our philosophy is simple-treat every closing as if it were our own. We ask ourselves every day, "What would I want done if this were My Closing?" We have assembled together our team of experts to handle all of your short sale needs. Our dedicated staff is excited to navigate the short sale process for you.

The following disclosure is made pursuant to the Federal Trade Commission's MARS Rule (16 C.F.R. § 322 et seq.) and also pursuant to 12 C.F.R. Part 1015 of the Maryland Regulation O. You, the homeowner may have other rights under the Maryland Protection of Homeowners in Foreclosure Act.
You may stop doing business with us at any time. You may accept or reject the offer of Mortgage assistance we obtain from your lender (or servicer). If you reject the offer, you do not have to pay us anything. If you accept the offer, you will have to pay us nothing out of pocket, but we reserve the right to collect fees at settlement from your lender and other parties, which will vary with each situation.
MYclosing, LLC is a for profit business. MYclosing, LLC and their agents are not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
If you stop paying your mortgage, you could lose your home and damage your credit rating.